FRANKFURT Jan 7 Goldman Sachs and private equity firm KKR have placed a 10.8 percent stake in German forklift maker Kion Group AG for a price of 29.50 euros a share, a source familiar with the transaction said on Tuesday.
Earlier on Tuesday, Goldman Sachs said it will sell 10,681,388 Kion shares via an accelerated bookbuilding process.
Based on the 29.50 euros a share price the share sale is worth about 315 million euros ($429 million). The placement is being made at a discount of about 4 percent to Tuesday's closing share price of 30.75 euros.
Kion, which listed on the Frankfurt stock exchange about six months ago, is the world's second biggest maker of forklifts after Japan's Toyota.